As predicted, traders would be mad to hold this over a 5 day week end with London open on Tuesday. Sold off here and in London.
IMO there's no reason to buy ahead of the Qty Update.
Yes, it looks cheap for the reserves but we all thought that at 70c. Gold in the ground is just rock and management need to rebuild confidence they can convert it to cash.
For me, there's just too much uncertainty or at least no compelling reason to re-enter yet.
What has happened to the other Substantial Shareholders? Does the company retain their confidence? How will another lousy quarter effect their 11/12 targets?
I made a bad decision here, I am in no hurry to compound it.
GL all
NGX Price at posting:
25.0¢ Sentiment: Hold Disclosure: Held
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